Wow Recognition - Alaska SHRM State Council | Alaska SHRM...
Transcript of Wow Recognition - Alaska SHRM State Council | Alaska SHRM...
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The average employee stays in one
job for only 4.4 years.-Bureau of Labor and Statistics
Does your recognition strategy move
the needle for your NEW employees?
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Wow Recognition
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84% of employees plan to look for a
new job. -manpower survey, cited in CNN
How does your organization respond?
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Wow Recognition
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The top 3 reasons to quit…
1. Inadequate compensation
2. Inadequate opportunity for advancement
3. Insufficient recognition and appreciation-salary.com survey
Are you using employee recognition
to deliver the results you need?
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Wow Recognition
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By 2015, Generation Y will account for
over half of the workforce.
-Sources: WGSN. LuxuryLab www.l2thinktank.com
Will your recognition initiatives
effectively attract and retain these
workers?.
Wow Recognition
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32 percent of CEOs invest no time in
employee recognition.- SHRM/Globoforce Employee Recognition Tracker Survey
How is your group insuring top leadership
involvement in order to maximize the
impact of recognition?.
Wow Recognition
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The #1 reason people leave their jobs is
because they don’t feel appreciated. » Bureau of Labor
How is your organization leveraging
employee recognition to retain the best
and brightest?.
Wow Recognition
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Only 31% of employees are engaged.
-Blessing White, 2011
What would happen in your business
if every employee was engaged?
How can you move toward that
goal?
Wow Recognition
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Employee Recognition
for the New Generation
Building a WOW!
Recognition Culture
Mike Byam | Author of The WOW! Workplace
Managing Partner, Terryberry
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• Reinforce Value
• Provide Practical Steps
• Share Ideas
• Have Fun!
Building a WOW! Recognition Culture
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• Most employees feel adequately recognized at work.
– True
– False
• Only 40% of employees feel adequately recognized by their
supervisor.
• 65% of employees say they received no recognition in the last
year.
• 29% of employees are satisfied with recognition they receive.
• 90% of businesses indicate they recognize their employees.
Building a WOW! Recognition Culture
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• STEP 1: Get Aligned
“Every Client, Every Policy, Every Time”
– Chris Fisher, Keyser Insurance Group
Building a WOW! Recognition Culture
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• ABC’s of Recognition
– Underscore what your company values most
• Attitudes
• Behaviors
• Contributions
Building a WOW! Recognition Culture
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• Senior leaders believe what percentage of their employees are recognized monthly?
– 25%
– 42%
– 63%
– 80%
• 40% of managers report recognition happens monthly
• 22% of individual contributors report that recognition happens monthly.
Building a WOW! Recognition Culture
(Bersin & Associates, 2012)
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• Recognition that is too frequent will lose its
impact.
– True
– False
Building a WOW! Recognition
Culture
Monthly Weekly Daily
ENGAGEMENT
LEVEL
20% increase
35% increase
(citing findings of David Brown, Director of Hewitt Associates)
FREQUENCY
Recognition Drives Engagement
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Building a WOW! Recognition Culture
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PERIOD 35) X X X X X X
4) X X X X X X
3) X X X X X X
2) X X X X X X
1) X X X X X XCredit for the work they do 1
Interest in work 2
Fair pay with salary increase 3
Understanding & appreciation 4
Promotion on merits 5
• Areas of job satisfaction most often linked to
employee motivation - The AMA
Building a WOW! Recognition Culture
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Building a WOW! Recognition Culture
0% 20% 40% 60% 80% 100%
Motivated to do Their Best
Feel Engaged
Intend to Look for a New Job
Employees Who Feel Undervalued
APA by Harris Interactive , March 8,
2012
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Building a WOW! Recognition Culture
Happier Employees + Happier Customers = More Profit
Linking people metric with business metrics (ACE)
Alignment Capabilities Engagement
•Restaurants with high scores in all 3 dimensions =
“Optimized” on People Equality
•“Optimized” restaurants have:
• 21% lower turnover
• 5% higher overall guest satisfaction
• 10% higher sales
• 30% higher profits
Mark H. Blankenship, (July 2012) HR Magazine
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• STEP 2: Connect with Employees
“People often say that motivation doesn’t last.
Well, neither does bathing – that’s why we
recommend it daily.” » Zig Ziglar
Building a WOW! Recognition Culture
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• STEP 3: Create Balance
– Recognition is a 3-Legged Stool
Formal
Structured recognition for defined criteria
Significant awards for significant achievements
Informal
Casual structure, defined criteria
Peer to peer interactions
Frequently minimal investmentDay-to-Day
Manager/Employee interactions
Often supervisor-driven
Building a WOW! Recognition Culture
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Give a Meaningful Presentation
Don’t Wait!
Be Specific
Be Positive
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• Reinforce Value
• Provide Practical Steps
• Share Ideas
• Have Fun!
Building a WOW! Recognition Culture
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Question & Answer Session
To learn more, visit: www.terryberry.com
For questions, contact Mike Byam: [email protected]
Follow us on Twitter: www.twitter.com/terryberryco
Like us on facebook: www.facebook.com/TerryberryCompany
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Recognition Resources
The WOW! Workplaceby Mike Byam
"A catchy, engaging, and useful
read. Byam shows how recognition
efforts can energize and create a
positive work environment that
sustains business success."
Dave Ulrich
Professor, Ross School of
Business,
Univ. of Michigan Partner, The RBL
Group
In the WOW! Workplace, you’ll find
page after page of real-world
recognition ideas from top businesses
like Stanley Tools, Google, Wegmans
and more. A practical guide and a
great training tool for management
teams.
Get your copy…
In Print: www.WowWorkplace.com
E-book: www.smashwords.com
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Recognition Resources
Reasons 2 Rewardby Ann-Maree O’Neill & Shaun McKeogh
“There is no better and more
effective way to grow a business
and culture of mutual teamwork
than by rewarding and recognizing
hard work."
Craig Rebuck, Managing Director
JMPresentations, London
Reasons 2 Reward provides a formula for
designing and implementing a reward
program that creates a motivating work
environment and helps leaders take their
business to the next level.
Get your copy…
In Print: www.recognizeme.com
E-book: www.smashwords.com
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Recognition Training
• On-Site Training Programs
• Virtual Training Programs
• Learning Toolkits
Equip your organization’s leaders with the know-how to energize
and engage your workforce through effective recognition.
www.recognitionuniversity.com
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• 100 BEST are all leaders in recognizing
the value and importance of their people to
their success
– Praise and recognition are essential building
blocks of a great workplace.
• Balance of formal, informal, day-to-day & peer
recognition
Building a WOW! Recognition
Culture